| SCHEDULE OF GOODWILL |
During
the year ended December 31, 2025, as further discussed in Note 16 the Company sold the assets of Fortman Insurance Services, Employee Benefits Solutions, LLC, and US Benefits Alliance, LLC. The following table rolls forward the Company’s goodwill
balance for the periods ended December 31, 2025, and 2024 showing the effects from the sales on the balance of goodwill.
SCHEDULE OF GOODWILL
| | |
Goodwill | |
| December 31, 2023, and December 31, 2024 | |
$ | 6,693,099 | |
| Goodwill related to the Fortman Sale | |
| (1,131,456 | ) |
| Goodwill related to the
EBS Sale | |
| (775,088 | ) |
| December 31, 2025 | |
$ | 4,786,555 | |
|
| SCHEDULE OF INTANGIBLE ASSETS AND WEIGHTED-AVERAGE REMAINING AMORTIZATION PERIOD |
The
following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization
period as of December 31, 2025:
SCHEDULE OF INTANGIBLE ASSETS AND WEIGHTED-AVERAGE REMAINING AMORTIZATION PERIOD
| | |
Weighted Average Remaining Amortization period
(Years) | | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | |
| Trade name and trademarks | |
| 0.3 | | |
$ | 1,479,027 | | |
$ | (1,427,398 | ) | |
$ | 51,629 | |
| Internally developed software | |
| 1.3 | | |
| 1,760,605 | | |
| (1,305,944 | ) | |
| 454,661 | |
| Customer relationships | |
| 4.2 | | |
| 5,384,560 | | |
| (2,557,337 | ) | |
| 2,827,223 | |
| Non-competition
agreements | |
| 0.3 | | |
| 2,661,150 | | |
| (2,606,683 | ) | |
| 54,467 | |
| Total | |
| | | |
$ | 11,285,342 | | |
$ | (7,897,362 | ) | |
$ | 3,387,980 | |
The
following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization
period as of December 31, 2024:
| | |
Weighted Average Remaining Amortization period
(Years) | | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | |
| Trade name and trademarks | |
| 1.8 | | |
$ | 1,808,087 | | |
$ | (1,586,651 | ) | |
$ | 221,436 | |
| Internally developed software | |
| 2.3 | | |
| 1,733,817 | | |
| (948,706 | ) | |
| 785,111 | |
| Customer relationships | |
| 5.8 | | |
| 7,372,290 | | |
| (3,180,376 | ) | |
| 4,191,914 | |
| Purchased software | |
| 2.0 | | |
| 565,704 | | |
| (563,470 | ) | |
| 2,234 | |
| Non-competition
agreements | |
| 1.3 | | |
| 3,504,810 | | |
| (3,281,608 | ) | |
| 223,202 | |
| Total | |
| | | |
$ | 14,984,708 | | |
$ | (9,560,811 | ) | |
$ | 5,423,897 | |
|
| SCHEDULE OF AMORTIZATION EXPENSE OF ACQUIRED INTANGIBLES ASSETS |
The
following table reflects expected amortization expense as of December 31, 2025, for each of the following five years and thereafter:
SCHEDULE OF AMORTIZATION EXPENSE OF ACQUIRED INTANGIBLES ASSETS
| Years
ending December 31, | |
| Amortization
Expense | |
| 2026 | |
$ | 960,985 | |
| 2027 | |
| 627,251 | |
| 2028 | |
| 545,853 | |
| 2029 | |
| 466,520 | |
| 2030 | |
| 376,196 | |
| Thereafter | |
| 411,175 | |
| Total | |
$ | 3,387,980 | |
|